Updated Dec 4, 2024
CIM Group Acquires Onyx183, A 390-Unit Apartment Community In Austin
6800 Mcneil Drive
Units
390
Asset Type
MultiFamily
Closing
Oct 10, 2023
About this deal
AI
CIM Group, in partnership with Shaul Kuba, has recently acquired Onyx183, a 390-unit apartment community located at 6800 Mcneil Drive in Austin, Texas. The property spans over 21 acres and is known for its modern amenities and close proximity to major tech companies such as Apple and Amazon. This acquisition aligns with CIM Group's strategy of enhancing communities in Austin and beyond.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 390
- Acres: 21
- Market: Austin
The acquisition of Onyx183 by CIM Group and Shaul Kuba highlights their focus on investing in properties that offer modern amenities and are conveniently located near major tech companies. This deal showcases their commitment to enhancing communities in Austin and beyond, catering to the growing demand for quality housing in the area.
Players
Austin MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse Austin multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93